"He thinks his pay is adequate. The presidency's still a pretty good job," quipped the press secretary.

No one disputes that, but a blue-ribbon panel that reviewed government salaries two years ago did recommend boosting the president's salary in 1993 to $350,000 plus a cost-of-living adjustment. Congress ignored the recommendation.

Consumer advocate Ralph Nader begs to differ.

Nader, who lobbied strenuously to block the pay hikes, believes Bush should revoke the 1991 raises and cut his own pay "as a gesture to the American people at a time of considerable sacrifice for them."

Experts agree that whatever the salary, the presidency is rich in perquisites, from a mansion staffed with servants to the limousines, helicopters and Boeing 747 jumbo jet at his beck and call.

"The president probably gets the equivalent of another $500,000 in perks," said lawyer Lloyd N. Cutler, who chaired the 1989 Quadrennial Pay Commission. "The perks make up for an awful lot of salary,"